Banco de Crédito del Perú Announces Proration Factor To Be Applied In Connection With Its Tender Offer For Up To S/1,600 Million Aggregate Principal Amount Of The Outstanding S/2,000 Million Aggregate Principal Amount Of 4.850% Senior Notes Due 2020

LIMA, Peru, Sept. 12, 2019 /PRNewswire/ -- Banco de Crédito del Perú ("BCP") announced today the proration factor to be applied in connection with its previously announced offer to purchase for cash (the "PEN Notes Tender Offer") up to S/1,600 million (the "PEN Notes Maximum Tender Amount") of the outstanding 4.850% Senior Notes due 2020 issued by BCP (the "PEN Notes"). 

As announced on September 11, 2019 (the "Early Tender Date"), BCP has been advised by D.F. King & Co., Inc., the information and tender agent (the "Information and Tender Agent"), that, as of the Early Tender Date, S/1,847.2 million in aggregate principal amount of the PEN Notes, or approximately 92.36% of the outstanding PEN Notes, had been validly tendered (and not validly withdrawn) pursuant to the PEN Notes Tender Offer.

Because BCP will only accept for purchase PEN Notes in an aggregate principal amount that will not exceed the PEN Notes Maximum Tender Amount of S/1,600 million, subject to and conditioned upon the satisfaction or waiver of certain conditions, including, without limitation, the PEN Financing Condition, described in the Offer Documents, PEN Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date will be accepted for purchase using a proration factor of approximately 86.62%, as more fully described in the Offer to Purchase.  In accordance with Peruvian Central Bank rules, BCP will not increase the PEN Notes Maximum Tender Amount.

The terms and conditions of the PEN Notes Tender Offer are described in the offer to purchase dated August 28, 2019 (the "Offer to Purchase") and the related letter of transmittal (the "Letter of Transmittal" and, together with the Offer to Purchase, the "Offer Documents").

The PEN Notes Tender Offer will expire at 11:59 p.m., New York City time, on September 25, 2019, unless extended, terminated early or withdrawn (such date and time, as the same may be extended, the "PEN Expiration Time"). Because BCP has been advised by the Tender Agent and Information Agent that, as of the Early Tender Date, S/1,847.2 million in aggregate principal amount of the PEN Notes, or approximately 92.36% of the outstanding PEN Notes, had been validly tendered (and not validly withdrawn) pursuant to the PEN Notes Tender Offer, BCP will not accept any PEN Notes for purchase that are tendered after the Early Tender Date and prior to the PEN Expiration Time.

As set forth in the Offer to Purchase, because DTC does not have the ability to deliver payments to its participants in Peruvian Soles, BCP will pay the Purchase Price and, if applicable, Accrued Interest, in U.S. dollars, by translating the applicable amount in Peruvian Soles into U.S. dollars at the Representative Market Rate (as defined in the Offer to Purchase) on the Early Tender Date.  The Representative Market Rate in effect on September 11, 2019 is of S/3.3426 per U.S.$1.00.

To contact the Information and Tender Agent, banks and brokers may call +1 (212) 269-5550, and others may call U.S. toll-free: +1 (877)732-3614 or email [email protected]. Additional contact information is set forth below.

Copies of each of the Offer Documents are available at the following web address: www.dfking.com/bcp.

Any questions or requests for assistance or for additional copies of this notice may be directed to the dealer managers at their respective telephone numbers set forth below or, if by any Holder, to such Holder's broker, dealer, commercial bank, trust company or other nominee for assistance concerning the PEN Notes Tender Offer.

The dealer managers for the PEN Notes Tender Offer are:

This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the PEN Notes or any other securities in the United States or any other country, nor shall it or any part of it, or the fact of its release, form the basis of, or be relied on or in connection with, any contract therefor. The PEN Notes Tender Offer is made only by and pursuant to the terms of the Offer Documents, and the information in this notice is qualified by reference to the Offer to Purchase and the related Letter of Transmittal. None of BCP, the dealer managers or the Information and Tender Agent makes any recommendation as to whether Holders should tender their PEN Notes pursuant to the PEN Notes Tender Offer.

SOURCE Banco de Credito del Peru